Foreclosure Auction Sale

NRC has been retained to market the foreclosure sale auction for this closed convenience store with gas near Kent State University. The store is located just off I-76 at a busy intersection and features a highway sign marquee. The auction is being conducted online by auctioneer by Barry Baker, in his capacity as the court-approved Private Selling Officer, and will end on June 3, 2020 at 12:00 pm Eastern Time. Bidding will start at $200,000 and is now open. Case Information: Plaintiff: Phoenix REO, LLC; Defendant Name: Palak Petrol, LLC; Attorney: Baker Hostetler; Case #2017cv00837. Log-in to your NRC.com account for additional property and due diligence information.

Property Information
Auction Date	Online Bidding Open! Ends June 3, 2020 - 12:00 PM ET
Opening Bid	$200,000
Auction Website	https://www.ohiosheriffsales.com/property_details/portage_co_gas_station_613
Offering	Convenience Store with Gas
Operating Status	Closed
Building Size	1,512 sf (approx.)
Lot Size	26,135 sf
County	Portage County

Location Information

Brimfield is located 13 miles east of Akron and the store sits 10 minutes south of Kent State University. The property is located immediately off I-76 exit 33, the exit for Kent State, and is surrounded by four hotels and residential housing with a McDonald's, Wendy’s, and Pizza Hut nearby. The property benefits from 40,395 vehicles per day passing by this highway exit and 22,060 vehicles per day passing by the store.

Auctioneer and Broker Information
Lead Auctioneer: Barry Baker, Ohio Sheriff Sales Sale in cooperation with NRC Realty & Capital Advisors of OH, DBA Continental Real Estate Advisors, #REC.2016003084, Derek Eisenberg broker.

Basic Terms

This is a Foreclosure Auction ordered by the Portage County Common Pleas Court. The foreclosure process clears all liens and encumbrances on the subject property. The property sells with a minimum opening bid of $200,000. The required deposit is 10% of the high bid. In the case of an online purchase, the successful bidder will be required to directly deposit the required amount into the trust account of Ohio Sheriff Sales at any Chase Bank branch OR initiate a wire transfer to said trust account by 5:00pm the day of auction. Purchaser may also have the deposit charged to the credit card provided at the time of registration with a 4% processing fee added to the deposit amount. ACH deduction is also available with no additional cost by providing your bank account information to the PSO. This method is highly recommended. If deposit has not been made by 12:00 pm the day following the auction, the credit card provided at the time of registration will automatically be charged along w

Notes

Although information has been obtained from sources deemed reliable, NRC Realty & Capital Advisors, LLC, the Seller, Barry Baker and Ohio Sheriff Sales, and/or its representatives, brokers or agents make no guarantees as to the accuracy of the information contained herein, and offer the Property without expressed or implied warranty of any kind. Lot and building sizes are approximate. Property may be withdrawn at any time without notice.